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Alberta Playground Inc. produces, markets, distributes, and installs durable playground equipment. It is a new, growing playground distributor in Canada, and is hoping to expand to other provinces shortly. Its head office is in Edmonton, and its 2023 and 2022 balance sheets and income statements follow. Assets Current assets Alberta Playground Inc. Balance Sheet ($000) Years Ended March 31 2023 2022 Cash and cash equivalents 77,891 $ 55,219 Receivables 461,207 367,469 Inventories 663,194 567,754 Prepaid expenses and other assets 51,060 29,614 Non-strategic investment 27,823 80 Other current assets 33,043 28,362 Total current assets $1,314,218 $1,048,498 0 41,343 1,043,150 1,054,756 849,430 718,295 340,238 317,813 138,793 94,266 Portfolio investment Property, Plant, & Equipment Goodwill Trademarks and other intangibles Other assets Total assets Liabilities Current liabilities Bank loans Accounts payable and accrued liabilities Income taxes payable Current portion of long-term debt Total current liabilities Non-Current Liabilities Long-term debt Other liabilities Total liabilities Equity Common shares Retained earnings Total equity Total liabilities and equity $3,685,829 $3,274,971 $ 170,989 $ 61,972 574,379 471,706 199,038 149,777 28,279 8,719 972,685 $ 692,174 381,590 153,769 379,280 189,383 $1,541,348 $1,227,533 $ 621,675 $ 588,749 1,522,806 1,458,689 $2,144,481 $2,047,438 $3,685,829 $3,274,971

Alberta Playground Inc. produces, markets, distributes, and installs durable playground equipment. It is a new, growing playground distributor in Canada, and is hoping to expand to other provinces shortly. Its head office is in Edmonton, and its 2023 and 2022 balance sheets and income statements follow. Assets Current assets Alberta Playground Inc. Balance Sheet ($000) Years Ended March 31 2023 2022 Cash and cash equivalents 77,891 $ 55,219 Receivables 461,207 367,469 Inventories 663,194 567,754 Prepaid expenses and other assets 51,060 29,614 Non-strategic investment 27,823 80 Other current assets 33,043 28,362 Total current assets $1,314,218 $1,048,498 0 41,343 1,043,150 1,054,756 849,430 718,295 340,238 317,813 138,793 94,266 Portfolio investment Property, Plant, & Equipment Goodwill Trademarks and other intangibles Other assets Total assets Liabilities Current liabilities Bank loans Accounts payable and accrued liabilities Income taxes payable Current portion of long-term debt Total current liabilities Non-Current Liabilities Long-term debt Other liabilities Total liabilities Equity Common shares Retained earnings Total equity Total liabilities and equity $3,685,829 $3,274,971 $ 170,989 $ 61,972 574,379 471,706 199,038 149,777 28,279 8,719 972,685 $ 692,174 381,590 153,769 379,280 189,383 $1,541,348 $1,227,533 $ 621,675 $ 588,749 1,522,806 1,458,689 $2,144,481 $2,047,438 $3,685,829 $3,274,971

Century 21 Accounting Multicolumn Journal
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter19: Accounting For Plant Assets, Depreciation, And Intangible Assets
Section19.6: Buying Intangible Assets And Calculating Amortization Expense
Problem 1OYO
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Alberta Playground Inc. produces, markets, distributes, and installs durable playground equipment. It is a new, growing playground distributor in Canada, and is hoping to expand to other provinces shortly. Its head office is in Edmonton, and its 2023 and 2022 balance sheets and income statements follow. Assets Current assets Alberta Playground Inc. Balance Sheet ($000) Years Ended March 31 2023 2022 Cash and cash equivalents 77,891 $ 55,219 Receivables 461,207 367,469 Inventories 663,194 567,754 Prepaid expenses and other assets 51,060 29,614 Non-strategic investment 27,823 80 Other current assets 33,043 28,362 Total current assets $1,314,218 $1,048,498 0 41,343 1,043,150 1,054,756 849,430 718,295 340,238 317,813 138,793 94,266 Portfolio investment Property, Plant, & Equipment Goodwill Trademarks and other intangibles Other assets Total assets Liabilities Current liabilities Bank loans Accounts payable and accrued liabilities Income taxes payable Current portion of long-term debt Total current liabilities Non-Current Liabilities Long-term debt Other liabilities Total liabilities Equity Common shares Retained earnings Total equity Total liabilities and equity $3,685,829 $3,274,971 $ 170,989 $ 61,972 574,379 471,706 199,038 149,777 28,279 8,719 972,685 $ 692,174 381,590 153,769 379,280 189,383 $1,541,348 $1,227,533 $ 621,675 $ 588,749 1,522,806 1,458,689 $2,144,481 $2,047,438 $3,685,829 $3,274,971
Transcribed Image Text:Alberta Playground Inc. produces, markets, distributes, and installs durable playground equipment. It is a new, growing playground distributor in Canada, and is hoping to expand to other provinces shortly. Its head office is in Edmonton, and its 2023 and 2022 balance sheets and income statements follow. Assets Current assets Alberta Playground Inc. Balance Sheet ($000) Years Ended March 31 2023 2022 Cash and cash equivalents 77,891 $ 55,219 Receivables 461,207 367,469 Inventories 663,194 567,754 Prepaid expenses and other assets 51,060 29,614 Non-strategic investment 27,823 80 Other current assets 33,043 28,362 Total current assets $1,314,218 $1,048,498 0 41,343 1,043,150 1,054,756 849,430 718,295 340,238 317,813 138,793 94,266 Portfolio investment Property, Plant, & Equipment Goodwill Trademarks and other intangibles Other assets Total assets Liabilities Current liabilities Bank loans Accounts payable and accrued liabilities Income taxes payable Current portion of long-term debt Total current liabilities Non-Current Liabilities Long-term debt Other liabilities Total liabilities Equity Common shares Retained earnings Total equity Total liabilities and equity $3,685,829 $3,274,971 $ 170,989 $ 61,972 574,379 471,706 199,038 149,777 28,279 8,719 972,685 $ 692,174 381,590 153,769 379,280 189,383 $1,541,348 $1,227,533 $ 621,675 $ 588,749 1,522,806 1,458,689 $2,144,481 $2,047,438 $3,685,829 $3,274,971
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